Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0453%/8h= +49.6% APRpaid last 24h −0.001%

Price spread now: KuCoin against Injective−0.781%100s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.781% cheaper against Injective than usual: you would sell low and buy high (spread −0.781% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$78 on $10k: about 5.7 days of funding at the current rate (+$14 a day). The two prices were read 100 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AR/USDC PERP	4.6110	−0.0353	get 0.0044% / 1h	19m 39s	$2K	$2K	5.5x
Short	KuCoin ARUSDTM	4.5750	0.0100	get 0.0100% / 8h	6h 19m	$1.4M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee KuCoinbpOrdersPrice spread, now −0.781%Rate

Funding earned: $95.12
Price spread: −0.781% → 0.000%: −$78.07
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $5.03
Costs to cover: 0.120%
Break-even: 6.6 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 11 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 11 min ago	6.62 bp	98.5 bp −$98	544.2 bp −$5,442	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AR on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ARUSD	−0.1670%	1h	4.5883	−0.493%	$56K	$149K	20x	as long as short
Injective AR/USDC PERPlong	−0.0353%	1h	4.6110	long leg	$2K	$2K	5.5x
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5762	−0.756%	$588K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0109%	8h	4.5720	−0.846%	$2.3M	$19.6M	20x	as long as short
MEXC AR_USDT	+0.0055%	8h	4.5740	−0.802%	$6.5M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0056%	8h	4.5768	−0.742%	$9.1M	$53.1M	75x	as long as short
Extended AR-USD	+0.0056%	1h	4.5732	−0.821%	$37K	$240K	10x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5824	−0.620%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5736	−0.811%	$24K	$500K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5750	−0.781%	$4.7M	$8.6M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5750	−0.781%	$2.6M	$2.2M	50x	as long as short
KuCoin ARUSDTMshort	+0.0100%	8h	4.5750	−0.781%	$1.4M	$1.1M	50x
Bitget ARUSDT	+0.0100%	8h	4.5730	−0.824%	$3.9M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5730	−0.824%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5797	−0.680%	$239K	$261K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5650	−0.998%	$20K	$747K	50x	as long as short